Guideline Value for RAILWAY QUARTERS

Railway Quarters guideline value

The current guideline value of Railway Quarters in Tiruttani village, under the Thiruttani SRO, is Rs 1,099 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Railway Quarters has changed

The guideline value for Railway Quarters has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 raised this figure further to Rs 1,099 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The significant changes between revisions include a 49% increase from 2017 to 2023, followed by the 10% increase from 2023 to 2024.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value, ranging from Rs 548 to Rs 1,540 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Railway Quarters above this median.

• Rajaji Street ( T V Malai): Rs 825 per sq.ft (2024)
• Pudur Medu: Rs 550 per sq.ft (2024)
• Pudur: Rs 548 per sq.ft (2024)
• Pudhu Vannarapettai: Rs 550 per sq.ft (2024)
• Poonga Nagar: Rs 550 per sq.ft (2024)
• P.M.S.Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 1,099 per sq.ft, the total guideline value amounts to Rs 10,99,000. The stamp duty at 7% would be Rs 76,930, and the registration fee at 2% would be Rs 21,980, totaling Rs 98,910. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Railway Quarters?

The Railway Quarters area is covered by the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Tiruttani

The guideline value plays a crucial role in the registration process when buying or selling property in Tiruttani. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that both parties are aware of the financial obligations involved. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Railway Quarters?

The current guideline value of Railway Quarters is Rs 1,099 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,099 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the registration office for Railway Quarters?

The registration office for Railway Quarters is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

How is the stamp duty calculated for properties in Railway Quarters?

Stamp duty for properties in Railway Quarters is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 10,99,000 would incur a stamp duty of Rs 76,930 at 7%.

What are the other streets in Tiruttani with guideline values?

Other streets in Tiruttani include Rajaji Street ( T V Malai) at Rs 825 per sq.ft, Pudur Medu at Rs 550 per sq.ft, and Pudur at Rs 548 per sq.ft, among others.